If there's one constant in this world, it's that the cost of energy continues to climb, be it household electric or good ole petrol. We can't help you with the latter today, but we have found a pretty slick tool for keeping tabs on electricity consumption. Now, before you head down to the comments section or send your angry emails letting us know, we're fully aware that power monitoring solutions have been around for some time now. MeterPlug isn't your run-of-the-mill device, though. This solution is relatively inexpensive (it'll retail for about $60), very compact (it plays nicely with other plugs in your power strip), and with the included Android and iOS apps, it's quite powerful as well. The device will be available with US, UK or European plugs, and slips between your existing cord and an ordinary socket. Then, you pair it with your smartphone and you're good to go.

Once connected, MeterPlug uses your handset's GPS to find electricity rates for your location, then displays your current usage in watts and cost -- during our hands-on in NYC, a connected MacBook Pro pulled about 60 watts of power at a cost of $0.01 per hour. Connect a TV or household appliance though and you might just be surprised about how much you're spending on each gadget. Naturally, there's also a few tools to conserve energy. A simple (and responsive) power toggle lets you turn your device on and off using a smartphone, a proximity sensor cuts off power when you leave the room (and pops it back on when you arrive), and a feature called Vampire Power Shield keeps track of your gadget's typical consumption, then pulls the plug when you flip your television or Xbox to standby mode, potentially saving you a fair amount of money each year. The plug module and app worked very well during our test, as you'll see in the video after the break. Then, head over to the source link to submit your pre-order on Indiegogo.%Gallery-174468%